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To: AJ Berger who wrote (7231)	12/14/1997 11:35:00 PM
From: JP Sullivan	Respond to of 13925

I don't know if it would be accurate to say that the Singapore dollar is "pegged" to the US$ in the sense that the HK$ is. I believe (can some Singaporeans here help me out?) that the Sing$ is tied to a "basket" of currencies, of which one is the US$. So, there isn't a strict peg to the US$ as such or the Sing$ would not have depreciated as much as it already has (by about 10-15% since the crisis began). The HK$ appears to be much more stable (pegged at 7.8 to the US$) in comparison; the stock market, OTOH, is a different story.